10 Aug Surprise Your High Mileage Shoppers with a VSC Just for Them
Chances are your dealership has some vehicles with high miles you are looking to move. It’s never easy to sell them, though, even if they are late-models. Customers want low miles now more than ever considering that the average driver keeps a car for 11 years.
For the units on the used lot that have over close to or over 100K miles but that are still late model, don’t shy away from offering a high mileage VSC. Not many dealers offer them which is a true missed opportunity given the longevity of today’s cars and trucks and the sheer amount of time people are driving them.
Most standard VSC’s top out at 100k or maybe 150k (but those are rarer). Why not offer a ‘max protection coverage’ to help make those high mileage units more attractive? Market this special coverage as a dealer-branded high mileage mechanical breakdown coverage exclusive to your dealership.
See how easy that is?
Traditionally high mileage VSC’s have been avoided due to the back-end cost of the policy but with the right administrator, that doesn’t have to be the case. It can be affordable for the dealership and be easy to add within the DMS for menu inclusion.
Many customers will not even be thinking that a VSC is even possible on a high mileage car. When F&I staff offers it, it will be a welcome offering that is bound to get significant penetration on high mileage cars. CSI will be better for it.
High margin for F&I is the big win here. PVR can skyrocket on deals where stores usually give up on selling any aftermarket protections by assuming that customers won’t want to spend the money since the car already has so many miles. Not so! Offer it to every customer, explain the benefit of having protection that goes out up to 200K, and watch the profit skyrocket.
Your store makes more on what was thought of before as a ‘dead deal’ and your CSI increases due to a surprising extra your customer did not know they could get.